HentTilbud (DK) sold to North Media (DK)
1CT's second fund, 1CT Equity II realizes its first exit
HentTilbud (http://www.henttilbud.dk), an internet service for house owners seeking craftsmen and vice versa, is sold to the Danish Media Group, North Media (http://www.northmedia.dk).
The exit comes after a 10-fold increase in valuation of the business over 12 months and 15 months after 1CTs initial investment. In the same period, the number of employees has gone from 5 to 25 and revenues have grown by similar proportions.
North Media has purchased the entire company in a pursuit to grow its on-line activities. At the same time, 1CT will remain involved in the continued growth of HentTilbud as a key resource and participant in an attractive earn-out.